Industry News

Best September ever for Austin real estate

Steady demand for homes pushes prices higher

Austin, Texas, home sales set another record in September as single-family transactions rose 2.7 percent over their year-ago level, the Austin Board of Realtors reported. According to the latest Multiple Listing Service report, 2,341 single-family homes were sold last month, up from 2,280 sales in September 2005. Last month was the ninth consecutive month of year-over-year sales gains, according to statistics. The median price of single-family properties gained 3 percent from a year ago to a September record of $167,000, up from $162,000 in September 2005. The 8,203 active single-family listings in the MLS represent a 5 percent increase from September 2005, and were up from 8,137 in August. At an average of 58 days, the amount of time these listings sat on the market decreased by 15 percent, which is the shortest amount of time single-family listings have waited to sell since September 2001, when the average was 46 days. "If you want proof that Austin is a real estate hot zone, all yo...

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